- Latest available (Revised)
- Point in Time (25/06/2009)
- Original (As adopted by EU)
Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC (Text with EEA relevance)
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Version Superseded: 29/12/2017
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1.Member States shall ensure that allowances can be transferred between:
(a)persons within the Community;
(b)persons within the Community and persons in third countries, where such allowances are recognised in accordance with the procedure referred to in Article 25 without restrictions other than those contained in, or adopted pursuant to, this Directive.
[F11a. The Commission shall, by 31 December 2010 , examine whether the market for emissions allowances is sufficiently protected from insider dealing or market manipulation and, if appropriate, shall bring forward proposals to ensure such protection. The relevant provisions of Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse) (1) may be used with any appropriate adjustments needed to apply them to trade in commodities.]
2.Member States shall ensure that allowances issued by a competent authority of another Member State are recognised for the purpose[F2 of meeting an aircraft operator’s obligations under paragraph 2a or] of meeting an operator's obligations under paragraph 3.
[F22a. Administering Member States shall ensure that, by 30 April each year, each aircraft operator surrenders a number of allowances equal to the total emissions during the preceding calendar year from aviation activities listed in Annex I for which it is the aircraft operator, as verified in accordance with Article 15. Member States shall ensure that allowances surrendered in accordance with this paragraph are subsequently cancelled.]
[F33. Member States shall ensure that, by 30 April each year, the operator of each installation surrenders a number of allowances, other than allowances issued under Chapter II, equal to the total emissions from that installation during the preceding calendar year as verified in accordance with Article 15, and that these are subsequently cancelled.]
[F13a. An obligation to surrender allowances shall not arise in respect of emissions verified as captured and transported for permanent storage to a facility for which a permit is in force in accordance with Directive 2009/31/EC of the European Parliament and of the Council of 23 April 2009 on the geological storage of carbon dioxide (2) .]
4.Member States shall take the necessary steps to ensure that allowances will be cancelled at any time at the request of the person holding them.
[F15. Paragraphs 1 and 2 apply without prejudice to Article 10c.]
Textual Amendments
F1 Inserted by Directive 2009/29/EC of the European Parliament and of the Council of 23 April 2009 amending Directive 2003/87/EC so as to improve and extend the greenhouse gas emission allowance trading scheme of the Community (Text with EEA relevance).
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